Prestige Biopharma Partners with Teva... Increasing Dominance in the Israeli Market

License Agreement for Herceptin Antibody Biosimilar 'HD201'
Expecting Increased Market Share in Israel through Teva's Sales Force

[Asia Economy Reporter Minwoo Lee] Prestige BioPharma, a company specializing in antibody drugs, has partnered with global pharmaceutical company Teva to increase its market share in Israel.

Prestige BioPharma announced on the 12th that it had formed this strategic alliance with Teva. The license agreement was signed with Teva's wholly owned subsidiary, Avick Marketing. Prestige BioPharma will entrust Teva with the exclusive commercialization rights of 'HD201' in the Israeli market.

HD201 is a biosimilar of Herceptin, used for breast cancer and metastatic gastric cancer, and has proven equivalent efficacy to the original drug Herceptin by Roche through global Phase 3 clinical trials conducted in 13 countries worldwide. It is currently under review for marketing authorization by the European Medicines Agency (EMA).

Teva will be responsible for the drug approval, sales, and marketing of HD201. It is expected to significantly contribute to increasing market share based on its accumulated sales power and marketing experience.

Soyeon Park, CEO of Prestige BioPharma, said, "We are very pleased to commercialize our key biosimilar in Israel through this partnership," adding, "Israel is an important market for us, and the role of Teva, a specialized marketing pharmaceutical company, is essential to provide the best products to Israeli patients."

Yossi Opek, head of Teva, said, "This contract with Prestige BioPharma aligns with our company's goal of patient-centered research efforts," and added, "It will be a great opportunity to provide high-quality, low-cost, and easily accessible biosimilars to the Israeli market and further establish our leading position as a global pharmaceutical company."

This content was produced with the assistance of AI translation services.